HONG KONG, July 11, 2011 /PRNewswire-Asia-FirstCall/ --
China Cord Blood Corporation (NYSE: CO) ("CCBC" or the
"Company"), the first and largest cord blood banking operator in
China, today announced that the
Company repurchased an aggregate of 2,052,607 ordinary shares.
The purchases were made at an average purchase price of
$3.49 per share, for a total
consideration of approximately $7.2
million between September 2010
and July 2011. The total number of shares repurchased
represents approximately 47.7% of the total authorized amount under
the current buyback program, which will be effective until
September 30, 2011.
Approximately $7.8 million
still remains available for purchases under the current buyback
plan.
Ms. Ting Zheng, Chairperson and CEO of CCBC, stated, "Our
operational and financial performance has demonstrated consistently
strong growth. As our operations continue to expand across
various regions within China, we
will continue to capitalize on the growing business opportunities
in China to maintain this growth
momentum. We strongly believe that our current market
valuation has yet to reflect our growth plans and intrinsic value.
Thus, the management team considers the buyback program an
excellent opportunity and in the best interest of the Company and
its shareholders. Moving forward, we will continue to explore
various means and initiatives to add value to the Company for our
shareholders."
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest cord blood
banking operator in China in terms
of geographical coverage and is the only cord blood banking
operator with multiple licenses. Under current PRC government
regulations, only one licensed cord blood banking operator is
permitted to operate in each licensed region and only seven
licenses have been authorized as of today. China Cord Blood
Corporation provides cord blood collection, laboratory testing,
hematopoietic stem cell processing and stem cell storage services.
For more information, please visit our website at
http://www.chinacordbloodcorp.com.
For more information, please
contact:
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China Cord Blood
Corporation
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Ms. Joeling Law
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Tel: (+852) 3605-8180
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Email: ir@chinacordbloodcorp.com
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ICR, Inc.
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In New York: Ashley Ammon De
Simone: 1-646-277-1227
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In Beijing: Wen Lei Zheng:
+86-10-6583-7510
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SOURCE China Cord Blood Corporation